From MarketBeat:

Archer Investment Corp increased its stake in Invesco QQQ by 6.9% in the third quarter, now owning 37,071 shares worth $13,281,000, making it the second-largest holding. Other large investors also added to their stakes, with 43.95% of the stock owned by institutional investors.

Invesco QQQ traded up 1.7% on Friday, reaching $429.01 a share with a trading volume of 59,602,435 shares, above its average volume of 43,979,480. The firm’s fifty-day moving average is $406.55.

The company recently disclosed a None dividend in January and has a 52-week low of $285.19 and high of $430.24.

PowerShares QQQ Trust, Series 1 issues securities called Nasdaq-100 Index Tracking Stock, with the investment objective to provide results that generally correspond to the price and yield performance of the Nasdaq-100 Index.

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Although Invesco QQQ currently has a “hold” rating among analysts, top-rated analysts believe there are five stocks that are better buys.



Read more: Archer Investment Corp Purchases 2,393 Shares of Invesco QQQ (NASDAQ:QQQ)